QRG Capital Management Inc. Raises Position in Quanta Services, Inc. (NYSE:PWR)

QRG Capital Management Inc. lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 15.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,512 shares of the construction company’s stock after buying an additional 1,636 shares during the quarter. QRG Capital Management Inc.’s holdings in Quanta Services were worth $3,730,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PWR. EntryPoint Capital LLC purchased a new position in shares of Quanta Services in the first quarter valued at $25,000. Cambridge Trust Co. purchased a new position in Quanta Services in the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services during the second quarter valued at about $33,000. Quest Partners LLC purchased a new stake in shares of Quanta Services during the second quarter worth about $35,000. Finally, Eastern Bank acquired a new position in shares of Quanta Services in the third quarter worth about $44,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $310.82 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $45.88 billion, a PE ratio of 57.35 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $163.93 and a 1-year high of $317.91. The business’s fifty day moving average price is $292.81 and its two-hundred day moving average price is $274.22.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. On average, research analysts expect that Quanta Services, Inc. will post 7.83 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

Analyst Ratings Changes

PWR has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup upped their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. B. Riley lifted their price target on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Truist Financial boosted their price objective on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Activity at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last three months. 1.10% of the stock is owned by company insiders.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.